Legislation # 07-0081 Enactment Number none
Type Resolution - Budget Item Effective Date none
Introduction Date 2/14/2007
Title Resolution Authorizing the Advance of Up To $1,706,000 from the City's General Fund to the City's Capital Project Fund to Fund the Repair and Replacement of the Virginia Air and Space Center Building's Roof and Declaration of Official Intent to Reimburse the General Fund from Future Bond Proceeds.
 
Legislation History 07-0081
DateNotice Of ActionDescription
2/14/2007 Moved to approve consent agenda items 4 though 16 and 18 through 22.
2/3/2007 Received By Clerk's Office
 
View Attachments 07-0081
FileTypeSizeDescription
No attachment(s) found
 
Legislation Text 07-0081

 

City of Hampton, Virginia

Resolution - Budget Item

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 07-0081

 

Enactment Number: -

 

Resolution Authorizing the Advance of Up To $1,706,000 from the City's General Fund to the City's Capital Project Fund to Fund the Repair and Replacement of the Virginia Air and Space Center Building's Roof and Declaration of Official Intent to Reimburse the General Fund from Future Bond Proceeds.

 

Whereas, City Council of the City of Hampton Virginia, as part of the Fiscal Year 2007 Annual Capital Budget, appropriated $1,706,000 to funds for repairs and replacement of the roof of the Virginia Air Space Center Building, and;

 

Whereas, the funding source for that appropriation is a portion of the proceeds from a proposed general obligation bond issue, and;

 

Whereas, the actual issuance of the general obligation bonds has been delayed and the repairs and replace needs to been completed prior to the new expected issuance date of the bonds;

 

Therefore, be it resolved by the City Council of the City of Hampton, that the City Manager be authorized to advance up to $1,706,000 from the Citys General Fund to the Citys Capital Project fund for roof repairs and replacement at the Virginia Air Space Center Building, and;

 

Be it further resolved, The City of Hampton declares its reasonable official intent to reimburse the Citys General Fund for the funds advanced and expended for repairs and replacement of the Virginia Air Space Center Building upon issuance of the proposed general obligation bonds.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on February 14, 2007.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council